RIG Settles the Macondo Accident
Shares of Transocean rose 6% today on the news that the company had finally settled from the Macondo oil spill disaster in the Gulf of Mexico in April of 2010. In this video, Motley Fool energy analyst Joel South tells us that, to understand the sense of renewed investor confidence in Transocean, we need to look at BP by comparison, which bore the brunt of the blame for the disaster and paid out the highest fines. They emerged as a leaner, more-focused company as a result. Investors can now breathe a sigh of relief, as they are glad to have the liability settled and, along with Transocean, can look forward to 2013 and the possibility of a reinstated dividend.
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The article RIG Settles the Macondo Accident originally appeared on Fool.com.
Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of Transocean and ExxonMobil. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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